A girl recently shared her painful experience with me on bank fraud. Due to security reasons, she decided not to have an ATM card, mobile transfer app (for Android) or ordinary transfers done with Nokia touch.

One evening, she was tricked into revealing an OTP code sent to her by her bank.

The next minute, a debit of #20,000 was made in her account. She later received a mail of online purchase. She narrated all these to me but I couldn't explain why because I thought fraudulent act can only be possible with an account that has ATM card or mobile transfer.

Please gurus, how possible is it? Someone should please explain.

Lastly, what do you advice her to do? She is confused, should she close the account?

Tell the girl to report to the CBN.

achidisucre:
A girl recently shared her painful experience with me on bank fraud. Due to security reasons, she decided not to have an ATM card, mobile transfer app (for Android) or ordinary transfers done with Nokia touch.

One evening, she was tricked into revealing an OTP code sent to her by her bank.

The next minute, a debit of #20,000 was made in her account. She later received a mail of online purchase. She narrated all these to me but I couldn't explain why because I thought fraudulent act can only be possible with an account that has ATM card or mobile transfer.

Please gurus, how possible is it? Someone should please explain.

Lastly, what do you advice her to do? She is confused, should she close the account?

Paystack only needs your bank name, account number, BVN, and an OTP will be sent to your phone, once you enter it your account is debited immediately. Revealing the OTP sent to her was her greatest mistake. The method is called Paystack Pay with Bank. Just tell her to go to her bank and instruct the customer care to block all means of withdrawal on her account leaving only Over The Counter withdrawals.
.
Note: Paystack may not be the payment processor used on this occasion and I only mentioned them because they have the method above, in her case it could be another payment processor/Gateway. Only her bank can tell which payment processor processed the transaction for further investigations.

SUPERPACK:
Paystack only needs your bank name, account number, BVN, and an OTP will be sent to your phone, once you enter it your account is debited immediately. Revealing the OTP sent to her was her greatest mistake. The method is called Paystack Pay with Bank. Just tell her to go to her bank and instruct the customer care to block all means of withdrawal on her account leaving only Over The Counter withdrawals.

Shikena

SUPERPACK:
Paystack only needs your bank name, account number, BVN, and an OTP will be sent to your phone, once you enter it your account is debited immediately. Revealing the OTP sent to her was her greatest mistake. The method is called Paystack Pay with Bank. Just tell her to go to her bank and instruct the customer care to block all means of withdrawal on her account leaving only Over The Counter withdrawals.

Thanks a lot

SUPERPACK:
Paystack only needs your bank name, account number, BVN, and an OTP will be sent to your phone, once you enter it your account is debited immediately. Revealing the OTP sent to her was her greatest mistake. The method is called Paystack Pay with Bank. Just tell her to go to her bank and instruct the customer care to block all means of withdrawal on her account leaving only Over The Counter withdrawals.

Paystack also has a policy to retrieve back money from an account holder in cases of fraud. The paystack account the person sent the money can easily be traced out so I suggest she reports to her bank, email paystack and cbn.

You can apply for card dispense error or charge back.
From your bank or bank mobile app

1x2x3:


Paystack also has a policy to retrieve back money from an account holder in cases of fraud. The paystack account the person sent the money can easily be traced out so I suggest she reports to her bank, email paystack and cbn.

@achidisucre

For those who has ATM cards too.

You money can be wiped with just the card number and Security number (c.vv) behind the card.

No OTP or card pin required.
Be careful who you give your atm card to.

lekjons:
For those who has ATM cards too.

You money can be wiped with just the card number and Security number (c.vv) behind the card.

No OTP or card pin required.
Be careful who you give your atm card to.

bros, how far

lekjons:
For those who has ATM cards too.

You money can be wiped with just the card number and Security number (c.vv) behind the card.

No OTP or card pin required.
Be careful who you give your atm card to.

No OTP, no Pin? i cant believe this one abeg. na jazz? i rstand to be corrected tho.

lekjons:
For those who has ATM cards too.

You money can be wiped with just the card number and Security number (c.vv) behind the card.

No OTP or card pin required.
Be careful who you give your atm card to.

I cleaned my C.VV, is that enough security?
What's wrong with Nairaland? Why is Cee vee vee censored?

BernieLee:

No OTP, no Pin? i cant believe this one abeg. na jazz? i rstand to be corrected tho.

International platforms do not require OTP to debit your card.
I paid for my Netflix without receiving OTP, I believe Apple Music too if I recall correctly.

achidisucre:
A girl recently shared her painful experience with me on bank fraud. Due to security reasons, she decided not to have an ATM card, mobile transfer app (for Android) or ordinary transfers done with Nokia touch.

One evening, she was tricked into revealing an OTP code sent to her by her bank.

The next minute, a debit of #20,000 was made in her account. She later received a mail of online purchase. She narrated all these to me but I couldn't explain why because I thought fraudulent act can only be possible with an account that has ATM card or mobile transfer.

Please gurus, how possible is it? Someone should please explain.

Lastly, what do you advice her to do? She is confused, should she close the account?

OTP works on account not on ATM cards

1x2x3:


Paystack also has a policy to retrieve back money from an account holder in cases of fraud. The paystack account the person sent the money can easily be traced out so I suggest she reports to her bank, email paystack and cbn.

Please can you provide the email of CBN, the receipt detail is as follows

Online Purchase from COLLECTION P.P.L NIBSS STL A/C CD9B2-E52E4-7423C-E1DE6/

So I don't know if it is stack pay

achidisucre:


Please can you provide the email of CBN, the receipt detail is as follows

Online Purchase from COLLECTION P.P.L NIBSS STL A/C CD9B2-E52E4-7423C-E1DE6/

So I don't know if it is stack pay

Get it from their twitter handle.

You need to be very careful so you won't be scammed while seeking for help from individual online especially on faceless forum.

Ok tnx

BernieLee:

No OTP, no Pin? i cant believe this one abeg. na jazz? i rstand to be corrected tho.

There are two types of Debit/credit card transactions; card present transaction and card not present transactions.
.
Card present transactions; this is when you transact with the card physically in an ATM stand, POS, Hotel checkout or Mall checkout, in these situations a pin is required to authenticate the transaction and show you own the card. Though in some situations, a contactless card can be swiped for payment without any pin or authentication method demanded.
.
Card not present transaction; This is when a purchase is been made with a card but it is online, so the seller is not seeing the buyer. In situations like this if it is local (inside Nigeria) purchase an OTP is needed to authenticate, but if it is international (outside Nigeria), a ¢vv is the only means of authentication mostly. The čvv is the 3 digits behind your card and when used during a card not present transaction indicates that the buyer is in possession of the card truly and should be his, so no OTP is sent. This is the only advantage of using a Verve card because it is only valid in Nigeria and for those with no intention to transact internationally.
.
I wish Nigerian banks will do more in sensitizing their customers on card security, uses and how to prevent fraud, I see no need giving a Visa card or Mastercard to an old man/woman or a young man who doesn't have plans to use it internationally. Also the way people hold their card on ATM queues as if it is an ID Card is dangerous because the person at your back could snap it with his phone and in such case now has the card too just like the owner.

SUPERPACK:
There are two types of Debit/credit card transactions; card present transaction and card not present transactions.
.
Card present transactions; this is when you transact with the card physically in an ATM stand, POS, Hotel checkout or Mall checkout, in these situations a pin is required to authenticate the transaction and show you own the card.
.
Card not present transaction; his is when a purchase is been made with a card but it is online, so the seller is not seeing the buyer. In situations like this if it is local (insde Nigeria) purchase an OTP is needed to authenticate, but if it is international (outside Nigeria), a ¢vv is the only means of authentication mostly. The čvv is the 3 digits behind your card and when used during a card not present transaction indicates that the buyer is in possession of the card truly and should be his, so no OTP is sent.

Big man

samsard:
Big man

Who be big man again. I dey find work in case you get. If possible make we share your GOT account.

SUPERPACK:
Who be big man again. I dey find work in case you get. If possible make we share your GOT account.

No dey whine me jor.
Long time

samsard:
No dey whine me jor.
Long time

I dey serious o. I never work since September last year so make you help person with connect.

BernieLee:

No OTP, no Pin? i cant believe this one abeg. na jazz? i rstand to be corrected tho.

Stay there! Who told you OTP is always used on online transactions? Lol e go shock you!

Dear customer, DO NOT DISCLOSE THIS PIN! kindly use one time pin 26***9 to authenticate your registration

This was how I got the above message from Union Bank when I know I never initiated any transaction

SpicyMimi:

Stay there! Who told you OTP is always used on online transactions? Lol e go shock you!

Lol i dey sleep ontop Okada be that.

SUPERPACK:
There are two types of Debit/credit card transactions; card present transaction and card not present transactions.
.
Card present transactions; this is when you transact with the card physically in an ATM stand, POS, Hotel checkout or Mall checkout, in these situations a pin is required to authenticate the transaction and show you own the card. Though in some situations, a contactless card can be swiped for payment without any pin or authentication method demanded.
.
Card not present transaction; This is when a purchase is been made with a card but it is online, so the seller is not seeing the buyer. In situations like this if it is local (inside Nigeria) purchase an OTP is needed to authenticate, but if it is international (outside Nigeria), a ¢vv is the only means of authentication mostly. The čvv is the 3 digits behind your card and when used during a card not present transaction indicates that the buyer is in possession of the card truly and should be his, so no OTP is sent. This is the only advantage of using a Verve card because it is only valid in Nigeria and for those with no intention to transact internationally.
.
I wish Nigerian banks will do more in sensitizing their customers on card security, uses and how to prevent fraud, I see no need giving a Visa card or Mastercard to an old man/woman or a young man who doesn't have plans to use it internationally. Also the way people hold their card on ATM queues as if it is an ID Card is dangerous because the person at your back could snap it with his phone and in such case now has the card too just like the owner.

wow this is enlightening

lekjons:
For those who has ATM cards too.

You money can be wiped with just the card number and Security number (c.vv) behind the card.

No OTP or card pin required.
Be careful who you give your atm card to.

and the best is to always lock your Debit Card via ur mobile app sandwich with a SIM lock

SUPERPACK:
There are two types of Debit/credit card transactions; card present transaction and card not present transactions.
.
Card present transactions; this is when you transact with the card physically in an ATM stand, POS, Hotel checkout or Mall checkout, in these situations a pin is required to authenticate the transaction and show you own the card. Though in some situations, a contactless card can be swiped for payment without any pin or authentication method demanded.
.
Card not present transaction; This is when a purchase is been made with a card but it is online, so the seller is not seeing the buyer. In situations like this if it is local (inside Nigeria) purchase an OTP is needed to authenticate, but if it is international (outside Nigeria), a ¢vv is the only means of authentication mostly. The čvv is the 3 digits behind your card and when used during a card not present transaction indicates that the buyer is in possession of the card truly and should be his, so no OTP is sent. This is the only advantage of using a Verve card because it is only valid in Nigeria and for those with no intention to transact internationally.
.
I wish Nigerian banks will do more in sensitizing their customers on card security, uses and how to prevent fraud, I see no need giving a Visa card or Mastercard to an old man/woman or a young man who doesn't have plans to use it internationally. Also the way people hold their card on ATM queues as if it is an ID Card is dangerous because the person at your back could snap it with his phone and in such case now has the card too just like the owner.

the best is to use your Card Control icon wisely on ur bank mobile app + sim lock